Six years ago, I built a new house and paid for it out of pocket. A year later, I decided I needed to borrow money against it for a medical expense. The bank sent an appraiser and I borrogewered a small percentage of th.e value of the property.

The appraiser indicated at this time that it was n ot in a flood zone. A year went by and I needed to borrow some more money. The bank sent the appraiser back out and he still indicated that it was not in a flood zone. At thiat time, we decided to check on some flood insurance. They asked if we had a flood plain certificate and we said no but that we had an appraisal and this indicated we were not in a flood zone. They accepted this and issued flood insurance. A year later we had a minor claim, they paid it, it was no big deal. Cancer came back and had to borrow more money. The bank sent the appraiser back out and made a 80% loan and everythinge was fine. A year later the bank called up and said they determined we were in a flood zone. The flood maps had not changed since 1988. The appraiser had not made a correct flood determination.. The bank said we had to carry different flood insurance. Got in touch with the insurance company and they said what we had and with what records they had we were ok. Bank said they would not accept our insurance policy. Ours was $300/yr there's was $600/yr. They put forced placed insurance on and charged us for it. A few months went by and we had a massive flood with structural damage to the house. (17 inch rain) Bank tells us they only insured it for 40% and no contents. They will keep the check and nothing released to us for repairs. Should the bank have gotten enough insurance to cover the entire loan?